Merrill Lynch sells Bharti Airtel shares worth Rs 1,931 cr

Merrill Lynch today offloaded shares worth Rs 1,931 crore in telecom operator Bharti Airtel, through an open market transaction.

According to the bulk deal data available with the BSE, Merrill Lynch Markets Singapore Pte Ltd sold 3.87 crore shares, amounting to 0.97 per cent stake, in Bharti Airtel.

The shares were disposed of at an average price of Rs 499.1 apiece, valuing the transaction at Rs 1,931.23 crore, the data showed.

At the end of December quarter, Merrill Lynch held 5.09 crore shares of the telecom major.

The shares were bought by SRS Partners (Cayman) LLC.

Bharti Airtel stock settled for the day at Rs 496.90 on the BSE, down 1.43 per cent from the previous close.